Eliem Therapeutics Enters Agreement To Acquire Tenet Medicines; No Terms Disclosed

Author: Benzinga Newsdesk | April 11, 2024 07:03am

The combined company plans to focus on advancing TNT119, a potentially best-in class anti-CD19 antibody, designed for a broad range of autoimmune diseases, including systemic lupus erythematosus, immune thrombocytopenia and membranous nephropathy. In support of the acquisition, Eliem has entered into a securities purchase agreement for a $120 million private placement of common stock with a syndicate of new and existing institutional life science investors. In the private placement, Eliem has agreed to sell 31.23 million shares of its common stock at a price of $3.84 per share, and upon the closing of the private placement, will receive aggregate gross proceeds of $120 million.

Posted In: ELYM